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Best Financial Advisors in Lowell

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Lowell, MA
  • Estate Planning
  • Financial Planning
  • Investment Management
  • Retirement Planning

Business Description

SmartAsset's free, five-minute tool makes it easy to find qualified financial advisors in your area. The exclusive tool uses a quick survey to help SmartAsset's exclusive algorithm match you with up to three advisors based on your specific financial needs. Each advisor is a fiduciary, legally bound to work in your best interest, and rigorously vetted by SmartAsset. You can speak with each for free, sometimes within a matter of minutes, and choose whom you want to work with. Hundreds of thousands of smart investors and retirees have already used SmartAsset's simple, no-cost service to find the right financial advisors for them.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
3.2 / 5 (15)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––

Price: Free consultation

Alexander Advisors logo
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Alexander Advisors

284 Ayer Road, Harvard, MA 01451
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  • Estate Planning
  • Tax Planning
  • Tax Preparation
  • Retirement Planning

Business Description

Alexander Advisors serves individuals, families, and businesses in Lowell and the surrounding communities. It helps clients in achieving financial independence using its industry experience and professional credentials. It has adopted a financial planning approach that considers clients' tax, estate, and investment plans. Founder David Alexander has been providing wealth management, tax, and business consulting services for almost 30 years. He is a member of the Massachusetts Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Google
4.1 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Beyond Your Hammock logo
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Beyond Your Hammock

50 Milk St 15th floor, Boston, MA 02109
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  • Financial Planning

Business Description

Beyond Your Hammock is an independent wealth management company that serves clients in Lowell and the surrounding areas. Specially catering to professionals and self-made millionaires in their 30s and 40s, its team of financial advisors provides fiduciary planning programs related to financial planning and investment management. Founder Eric Roberge is a Certified Financial Planner with over 20 years of experience in the industry. The firm has been featured on The Boston Globe, CNBC, The New York Times, and The Wall Street Journal.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (10)
BG Financial Planning logo
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BG Financial Planning

382 Lowell Street Suite 204A, Wakefield, MA 01880
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  • Retirement Planning
  • Financial Planning
  • Investment Advisor

Business Description

BG Financial Planning serves the needs of individual clients in and around Lowell. The company aims to help clients reach their financial objectives by offering comprehensive planning solutions which include an in-depth review of clients' finances, retirement planning, cash flow spending strategies, financial checkups, investment planning, and tax preparation. Its financial planners also assist clients by providing college funding advice, educational workshops, and financial seminars. Founding principal Ianka T. Rando is a Certified Financial Planner who has been in the financial services industry since 1997.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)
Boston Partners Financial Group LLC logo
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Boston Partners Financial Group LLC

138 River Road, Suite 201, Andover, MA 01810
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  • Retirement Planning
  • Financial Planning

Business Description

Boston Partners Financial Group, LLC, is based in Andover that offers services to individuals, business owners, and families in Lowell and nearby areas. It offers a wide variety of financial solutions, including investment, retirement, insurance, and business planning services. It has also partnered with another financial institution, Royal Alliance, to help clients pursue their financial goals. Boston Partners Financial Group, LLC, is an independent firm that has been in the business for two decades.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Claro Advisors logo
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Claro Advisors

100 High Street, Suite 950, Boston, MA 02110
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  • Estate Planning

Business Description

Established in 2012, Claro Advisors is an investment advisory firm serving Lowell. Its founder, Ryan Belanger, is a financial planner and Senior Wealth Advisor for the firm. He previously held the position of Vice President at Morgan Stanley, advising clients on wealth management. Claro Advisors offers an array of services, including 401K and 403B investments, investment management, and education, insurance, and retirement income planning. In addition, it oversees cash management plans and monitors budget expenditure.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (15)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Cohen Investment Advisors logo
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Cohen Investment Advisors

75 State Street, Suite 100, Boston, MA 02109
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  • Investment Management
  • Financial Planning

Business Description

Cohen Investment Advisors is a financial services company that caters to clients in Lowell. It creates financial plans for individuals and educates them on issues involving taxes. The company combines market data and clients' goals to provide customized recommendations. It also assists individuals through the process of real estate investing. The company has experience pooling funds from multiple investors to help acquire properties. Daniel Cohen, the company's chief investment officer, regularly writes articles for the New Hampshire Business Review.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Compass Financial Services Group Inc. logo
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Compass Financial Services Group Inc.

1 Tech Drive, Andover, MA 01810
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Business Description

Compass Financial Services Group Inc. offers a variety of services and products to help Lowell residents achieve wealth. Its advisors assist in creating employee retirement, pension, profit-sharing, college education, and estate plans. They offer advice on putting finances in order, investing money to gain profit, saving money to buy homes, starting businesses, and accumulating retirement income. In addition, they offer life insurance and annuities. Owner Michael Segreve, with over 30 years of experience, holds several certifications, including Chartered Financial Consultant.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Innovative Advisory Group logo
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Innovative Advisory Group

394 Lowell St, Suite 8, Lexington, MA 02420
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  • Finance Planning

Business Description

Innovative Advisory Group is a wealth management and financial advisory company that serves individuals and their families in Lowell. Its advising process begins with gathering information regarding the client's current financial situation, from current investments to risk tolerance. Afterward, its staff uses this data to develop plans that utilize investment strategies like portfolio diversification and charitable donations. These plans are regularly reviewed and updated according to the client's current circumstances. Advisors Magazine featured Kirk Chisholm, the company's principal, in an article detailing intergenerational financial advising.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.6
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
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Detail
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Morton Financial Advice logo
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Morton Financial Advice

131 Slough Rd, Harvard, MA 01451
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  • Certified Financial Planner (CFP)
  • Financial Planning
  • Wealth Management

Business Description

Morton Financial Advice is a fiduciary firm that offers financial planning and wealth management services to clients in Lowell. It serves entrepreneurs and tech professionals, guiding them on how to invest, reduce taxes, and pursue flexibility in achieving their financial objectives. Mike Morton educates clients about managing their cash flow through income budgeting and saving. He reviews insurance and assists in planning for retirement and college education. Morton is a Chartered Financial Consultant and Certified Financial Planner.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (9)
Facebook
5.0 / 5 (4)
Orion Wealth Advisors logo
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Orion Wealth Advisors

74 Bedford Street, Lexington, MA 02420
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  • Certified Financial Planner (CFP)

Business Description

Orion Wealth Advisors is a financial planning company that serves clients in and around Lowell. It caters to impending retirees, retired seniors, and widows and widowers looking for financial stability. The company helps its clients find investment options that match their personal values, such as charities and hospitals. It also reviews their financial records to help them develop savings goals and family support funds. In addition, the company can review applicable benefits for each client, such as Social Security and 401(k) savings.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
4.5 / 5 (182)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Peabody Wealth Advisors logo
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Peabody Wealth Advisors

150A Andover Street Suite 10A, Danvers, MA 01923
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  • Certified Financial Planner (CFP)
  • Financial Planning
  • Wealth Management

Business Description

Peabody Wealth Advisors works with individuals, families, businesses, and nonprofit organizations in Lowell to craft and implement a tailor-made financial plan and strategy. Among the services that the firm offers are investments management and insurance advisories. It also assists in Social Security, Medicaid, and education savings planning. The independent wealth management firm is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. It supports and gives back to local organizations, such as Chamber for Good, Citizens Inn, and the YMCA.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7
Google
4.7 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
The Bulfinch Group logo
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The Bulfinch Group

160 Gould Street, Ste 310, Needham, MA 02494
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  • Chartered Financial Analyst (CFA)

Business Description

Founded in 1994, The Bulfinch Group provides a wide range of financial services for individuals, families, and small businesses in Lowell and the surrounding areas. With ​financial advisors, wealth managers, insurance professionals, and business planners in the team, the company offers assistance in customizing retirement planning, estate planning, employee insurance, and corporate benefits solution. Founder Seth Medalie has CLU and CHFC designations. He is also a member of the Boston Society of Financial Services Professionals.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (12)
Google
4.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
The Financial Advisors LLC logo
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The Financial Advisors LLC

26 Essex Street, Andover, MA 01810
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  • Financial Planning

Business Description

The Financial Advisors LLC serves the needs of clients in and around Lowell. With an emphasis on comprehensive financial planning, the firm provides a broad range of financial strategies to help individuals of various life stages achieve or maintain financial independence or security. Advisors take into consideration many facets of a client's wealth to establish a clear roadmap in planning for their future, including cash flow, investments, retirement, real estate, and tax. The firm was founded in 1992 and had four Certified Financial Planners on staff.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
4.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
The Practical Planner, LLC logo
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The Practical Planner, LLC

274 Main Street, Groton, MA 01450
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  • Finance Planning

Business Description

The Practical Planner, LLC, is an independent financial planning and wealth management firm serving clients in Lowell. It creates comprehensive financial plans that include goal-setting sessions, advisory services, tax planning and preparation options, retirement planning, insurance advice, and estate planning. The firm also helps with customized investment strategies that meet the needs of each client, depending on their risk tolerance, tax situation, and investment needs. The Practical Planner was founded in 1999 by Patricia Konetzny, a Certified Financial Planner with over 20 years of experience.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (5)
Wingate Wealth Advisors logo
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Wingate Wealth Advisors

450 Bedford Street, Lexington, MA 02420
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  • Certified Financial Planner (CFP)
  • Financial Planning

Business Description

Wingate Wealth Advisors is an independent financial planning firm that serves clients in Lowell. It assists individuals and families in achieving financial independence through financial planning, investment management, and retirement planning. The firm works with tax preparers, attorneys, and other financial professionals, to align investment strategies with the economic conditions, needs, and goals of clients. Wingate Wealth Advisors combines financial planning and investment technology to help clients in making informed financial decisions. The firm has 35 years of industry experience.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Back to Providers

Frequently Asked Questions

Introduction

There are many titles for financial professionals, so it's challenging to track what each one means. A financial advisor is probably the term you've heard most often. Financial advisor is a broad term for a professional who helps individuals or companies manage their finances, including investment choices. There are over 100 certifications that financial advisors can obtain.

  • Financial planners, wealth managers, and investment advisors are all financial advisors with different focus areas.
  • A financial planner helps an individual or a company make a plan to achieve long-term financial goals.
  • A wealth manager helps individuals maintain their wealth through various disciplines and services, such as taxes, estate planning, and investment advice.
  • An investment advisor offers investment advice and recommendations to individuals or organizations.
There’s a misconception that you have to be extremely wealthy to use a financial advisor. In reality, they can be beneficial for people from any income level. Keep reading to find answers to the most commonly asked questions about financial advisors, so you know which type can fit your specific needs.

Are financial advisors worth it?

Whether or not a financial advisor is worth it depends on your personal situation. If your finances are fairly straightforward, then you may be better off handling it on your own. But if you have substantial assets or a complex investment portfolio, then hiring someone to handle it for you can be well worth the cost.

What does a financial advisor do?

Financial advisors can have many types of specialties. Generally, a financial advisor advises on or helps to execute a financial plan. Some examples include assisting people with getting out of debt, building out an investment portfolio, and handling taxes.

How much money do I need to work with a financial advisor?

There’s no specific income level you need in order to work with a financial advisor, but there may be a minimum investment amount for certain types of services. Some financial advisors won’t manage your money unless you have $100,000 or more to invest, but this isn’t the case with financial coaches or robo-advisors.

What does a financial coach do?

Financial coaches focus on improving your financial literacy and money management skills. For example, they can help you figure out how to pay down your student loans or decide how much money to put away for retirement. They usually charge by the hour and don’t offer asset management services or investment advice.

When should I use a financial advisor vs. doing it myself?

Smart money management can give you freedom and comfort. Being responsible with your money makes it possible to meet goals and pay for major expenses. A financial advisor is trained and can offer you expertise that would otherwise take years to learn. They know how to save you money and make it go further.

How do I know if my financial advisor is trustworthy?

Because financial advisors aren’t licensed or regulated, it’s up to the client to make that determination for themselves. However, if your advisor is a fiduciary, that means they’re legally bound to act in your best interest. Some types of advisors, including Certified Financial Professionals (CFPs), are held to fiduciary standards.

What\'s the difference between a financial advisor and a financial planner?

The term financial advisor is a broad phrase that encapsulates many specialties, including financial planner. It's similar to how doctor applies to different physicians, while a cardiologist is a specialty doctor. A financial planner helps their client plan to achieve long-term financial goals, such as saving for a house or retirement.

Are financial advisor fees tax deductible?

Until 2018, financial advisor fees were tax deductible as a miscellaneous expense. However, the Tax Cuts and Jobs Act elimited that deduction until at least 2025.

What is a financial consultant?

A financial consultant and a financial advisor are essentially the same. In recent years, financial consultant has become a less popular term, with financial advisor being much more common. Sometimes, the financial professional may opt for the term consultant when offering services to a business rather than an individual.

What is a robo-advisor?

A robo-advisor is essentially an algorithm that manages your investment portfolio for you. Because their services are automated, you’ll pay less than you would for a human advisor — often between 0.25% and 0.50%. They don’t require large initial investments either, making them a popular choice for entry-level investors. However, you won’t get the same level of advice that you would get from a personal financial advisor.

What makes someone a fiduciary?

Fiduciary is a legal term for a person who has a legal or ethical responsibility to act in your best interests. For example, a trustee and a beneficiary. A financial advisor may have a fiduciary obligation to make financial choices that are best for you, even if it means they earn less in commissions or fees.

How often should I meet with my financial advisor?

After your initial meeting, you may only need to check in with your financial advisor on a quarterly or annual basis. Ask them in advance how often you can expect to hear from them, and whether they offer in-person, phone, or virtual meetings.

Should your financial advisor be a fiduciary?

It’s important to understand that only some — not all — financial advisors have a fiduciary obligation to their clients. Always ask your financial advisor if they’re bound by fiduciary duty. If not, it’s possible that they’ll push products or services that earn them the highest commission, not necessarily what’s best for you. Opt for a financial advisor bound by fiduciary duty whenever possible.

Can my financial planner help with taxes?

Financial advisors aren’t necessarily accountants or tax preparers, so don’t expect them to prepare your taxes for you. However, they may be able to provide tax-related advice to help you optimize your returns and deductions. If you need an advisor who can file your taxes, look for one who is also a CPA (Certified Public Accountant).

Do I need a financial advisor?

Ask yourself if a financial advisor can fill a need or solve a problem you can’t easily handle on your own. They can be helpful in a wide variety of ways, such as building budgets or financial plans, finding ways to save money on taxes, creating an investment portfolio, or offering investment advice.

How do financial advisors get paid?

Clients pay to work with a financial advisor whether it’s through fees, commissions, or salaries. If they’re paid by client fees or commissions, their salary is tied to how much business they bring in. The harder they work, the more they make. In comparison, a salaried employee is guaranteed their wage no matter how many clients they have.

What experience should I look for in a financial advisor?

 If you have specific goals or a unique financial situation, look for a financial advisor with expertise in that area. For example, some financial advisors specialize in working with millennials or focus on socially responsible investing.

How much does a financial advisor cost?

A financial advisor’s costs depend on their fee structure. Some advisors charge a fee — either hourly or a percentage of the client assets under management. Another common option is to charge a commission on the products sold or investments made.

Should I hire a financial advisor before buying a house?

While not always necessary, a financial advisor could help you decide how large of a mortgage to apply for, how much money to put down, and how to balance the purchase with other savings and investment goals.

How many financial advisors are there in the U.S.?

According to the U.S. Bureau of Labor Statistics, it’s estimated that there are 218,050 financial advisors. California is the state with the highest employment of financial advisors across the nation.

Do banks offer financial advisors?

Yes, many banks have financial advisors on staff. Your bank may also offer incentives to work with their financial advisors, such as lower fees or free accounts. However, it's important to note that many of the bank's financial advisors don't have a fiduciary obligation and might prioritize the bank's products above all else. There is a cost when working with your bank's financial advisor.

Should I hire a wealth manager?

A wealth manager can help offer complex financial planning services, including tax guidance, estate planning, and legal assistance. While you don't have to be a high-income earner to benefit from a financial advisor, a wealth manager is typically for those that have a high net worth. However, many people build wealth and need a wealth manager later on in life.

Is wealth management worth it?

Wealth management is typically worth it for those who need help with multiple endeavors or comprehensive financial situations, such as charitable contributions or investment portfolio management, or want to protect their assets. A wealth manager can also offer you guidance if you’ve been neglecting your finances or making poor judgements.

How can you tell if a financial advisor is bad?

Your relationship with your financial advisor is a very personal one, as you’re trusting them with your wealth and future. Some general signs that your financial advisor is bad include:

  • They can’t answer your financial questions
  • You have worked with them for a while but haven’t seen a financial improvement
  • They don’t provide you with progress reports
  • They don’t check in with you

What do you need to be a financial advisor?

As mentioned, there are over 100 types of certifications for financial advisors. The training or experience you need will depend on which specialty you want to pursue. Generally, financial advisors need to have:

  • A Bachelor’s degree
  • A General Securities Representative license (Series 7 license)
  • A Certified Financial Planner (CFP) certification isn’t mandatory but is often preferred

Where do financial advisors work?

Where a financial advisor works will depend on what type of financial advisor they are. Financial advisors can work at a variety of places, including:

  • Securities and commodity brokers
  • A bank
  • A credit union
  • Independently
  • Insurance companies
  • Financial investment firms
  • Small investment advisory firms

How much do financial advisors make?

In 2019, the national average salary for a financial advisor was $87,850. However, it’s important to note the average salary varies from state to state and the different focus areas — an investment advisor may make a lot more than a financial planner. Lastly, salary can depend on how the individual is getting paid. Financial advisors can be paid by client fees, commissions, or salaries.

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